Quick Summary
The Ministry of Finance has issued a fresh notification permitting five reporting entities to perform Aadhaar authentication under the Prevention of Money-laundering Act, 2002 (PMLA). The notification was released by the Department of Revenue on May 27, 2026. As per the notification, the Central Go
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FAQ :
The Ministry of Finance, through the Department of Revenue, issued the notification.
The notification permits selected financial firms to perform Aadhaar authentication under the Prevention of Money-laundering Act (PMLA) for customer verification and compliance.
The authorised entities are Groww Mutual Fund, ICICI Securities Limited, Upstox Securities Private Limited, Cybrilla Technologies Private Limited, and Aaritya Broking Private Limited.
They are authorised under Section 11A of the Prevention of Money-laundering Act, 2002 (PMLA).
The Central Government authorised these entities after being satisfied that they comply with the privacy and security standards prescribed under the Aadhaar Act, 2016, following consultation with UIDAI and SEBI.
This development is expected to streamline digital KYC processes and strengthen compliance mechanisms in the financial services sector.
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